5 High-Growth Forever Dividend Stocks to Buy

3. T. Rowe Price Group, Inc. (NASDAQ:TROW)

5-Year Average Annual Dividend Growth Rate: 16.05%
Dividend Yield as of March 4: 4.3%

An American multinational investment management company, T. Rowe Price Group, Inc. (NASDAQ:TROW) is another high-growth dividend stock on our list. The company has raised its payouts at an annual average rate of 16.05% in the last five years. Moreover, it also maintains a 37-year streak of consistent dividend growth. The company offers a quarterly dividend of $1.22 per share and has a dividend yield of 4.3%, as of March 4.

In January, T. Rowe Price Group, Inc. (NASDAQ:TROW) reported month-end assets under management of $1.35 trillion, up 5.8% from the same period last year.

In January, Deutsche Bank maintained a Hold rating on T. Rowe Price Group, Inc. (NASDAQ:TROW) with a $121 price target, appreciating the company’s recent quarterly earnings.

At the end of Q4 2022, 29 hedge funds tracked by Insider Monkey reported owning stakes in T. Rowe Price Group, Inc. (NASDAQ:TROW), compared with 30 in the previous quarter. The collective value of these stakes is over $422.3 million.